Innovation and Growth 2016 Report

Innovation is a key driver of growth and essential if the UK is to remain competitive in the global economy
The UK still lingers embarrassingly at the bottom of the G8 when it comes to spending on research and development (R&D). The 0.5 per cent of GDP we allocate towards funding innovation pales in comparison to the United States’ 2.7 per cent or Germany’s target of 3 per cent. What’s more, many of the UK grants and European funding made available are too often poorly publicised. You know of Nesta and Innovate UK, but what about Horizon 2020?